Method, apparatus and program product for  facilitating transfer of vehicle leases

ABSTRACT

A method for facilitating transfer of vehicle leases between parties involves providing a database of vehicle lease records concerning vehicle leases available for transfer. A search engine is provided for searching the vehicle lease database according to entered criteria, the search engine operable to identify available vehicle lease records which meet the entered criteria. Access to the search engine is provided via a computer network. Upon execution of a given search including criteria entered by a searching user, the searching user is provided, via the computer network, with vehicle lease information concerning at least one matching vehicle lease record which meets the entered criteria of the given search, if such a matching vehicle lease record exists.

CROSS-REFERENCE TO RELATED APPLICATIONS

This application is a continuation of U.S. patent application Ser. No.11/089,610 filed on Mar. 25, 2005, entitled “METHOD, APPARATUS ANDPROGRAM PRODUCT FOR FACILITATING TRANSFER OF VEHICLE LEASES,” which is acontinuation of U.S. patent application Ser. No. 09/775,002 filed onJan. 7, 2001, entitled “SYSTEM AND METHOD FOR FACILITATING TRANSFER OFVEHICLE LEASES” (now issued as U.S. Pat. No. 6,965,874), which claimsthe benefit of Provisional Application Ser. No. 60/180,264 filed on Feb.4, 2000. The disclosures of each of these applications are incorporatedby reference herein in their entireties.

FIELD OF THE INVENTION

The present invention relates to a system and method for facilitatingtransferring vehicle leases from a lessee to a new lessee and, moreparticularly, a system and method for facilitating transferring vehicleleases via the Internet or other large scale computer network.

BACKGROUND OF THE INVENTION

For a variety of reasons persons often choose to lease a vehicle ratherthan purchase it outright. Many times the lease option provides theability to lower monthly payments, permitting a person to better affordhis or her vehicle of choice. One problem associated with vehicle leasesis their fixed term. In some situations a vehicle lessee desires to getout of the lease prior to termination. For example, such motivation toget out of a lease can be driven by a desire to obtain a differentvehicle or a desire to reduce monthly payments. Often times the feesassociated with terminating a lease early are undesirably high, but thefees associated with transferring the lease to another party may be lesssubstantial or non-existent.

Other impediments to vehicle lease transfers exist, including a generallack of consumer information concerning the ability to transfer as wellas liability issues raised for lessees who wish to transfer their lease.

Accordingly, it would be advantageous to provide a system and method forfacilitating the transfer of vehicle leases between parties.

SUMMARY OF THE INVENTION

In one aspect, a method for facilitating transfer of automobile leasesinvolves providing a website which displays a menu giving a visitor anoption of either creating a record including details of the visitor andof a leased automobile whose lease the visitor intends to assign, orviewing a list of records, each record including a description of aleased automobile and an owner thereof. If the visitor intends to createa record, the visitor is directed to a page at the website where thevisitor can input information pertaining to a leased automobile andinformation to enable another visitor to the website to contact thevisitor. The record created by the visitor is stored in a database. Ifthe visitor intends to view a record or records, the visitor is directedto a page at the website where the visitor can view at least one recordof a leased automobile.

In another aspect, a method for facilitating transfer of vehicle leasesbetween parties involves providing a database of vehicle lease recordsconcerning vehicle leases available for transfer. A search engine isprovided for searching the vehicle lease database according to enteredcriteria, the search engine operable to identify available vehicle leaserecords which meet the entered criteria. Access to the search engine isprovided via a computer network. Upon execution of a given searchincluding criteria entered by a searching user, the searching user isprovided, via the computer network, with vehicle lease informationconcerning at least one matching vehicle lease record which meets theentered criteria of the given search, if such a matching vehicle leaserecord exists.

In still a further aspect, a method for facilitating transfer of vehicleleases between parties involves providing a database of vehicle leaserecords concerning vehicle leases available for transfer. Access to atleast certain information concerning vehicle lease records in thevehicle lease database is provided via a computer network. A leaseaction engine is provided for modifying the vehicle lease database, andcontrolled access to the lease action engine is provided via thecomputer network. Upon addition of a vehicle lease record to the vehiclelease database by a listing user via the lease action engine, theentered vehicle lease record of the vehicle lease database is associatedwith the listing user. The lease action engine enables the listing userto delete or modify an existing vehicle lease record of the vehiclelease database only if the existing vehicle lease record is associatedwith the listing user.

In yet another aspect, a method for facilitating transfer of vehicleleases between parties involves providing a database of vehicle leaserecords concerning vehicle leases available for transfer, each recordincluding at least vehicle identifying information and listing useridentifying information. Searching users are provided access to thedatabase via a web site. A listing user may, via the web site,electronically initiate a lease transfer of a vehicle associated with agiven vehicle lease record to an identified searching user.

In still another aspect, a computer-based system for facilitatingtransfer of vehicle leases between parties includes a web site computersystem including a database of vehicle lease records concerning vehicleleases available for transfer; and an Internet accessible search enginefor searching the vehicle lease database according to entered criteria,the search engine operable to identify available vehicle lease recordswhich meet the entered criteria. The search engine is operable uponexecution of a given search including criteria entered by a searchinguser, to produce a web page providing the searching user with access toat least certain vehicle lease information concerning at least onematching vehicle lease record which meets the entered criteria of thegiven search, if such a matching vehicle lease record exists. The searchengine is further operable upon input by the searching user to (i) storethe entered criteria of the given search, (ii) associate the storedcriteria with at least an e-mail of the searching user, (iii) conduct atleast one future automated search of the vehicle lease database forvehicle lease records meeting the stored criteria, and (iv) initiatee-mail notification of the searching user in event the future automatedsearch identifies at least one matching vehicle lease record. AnInternet accessible lease action engine enables modifying the vehiclelease database, the lease action engine producing at least one web pagefor the entry of information for a vehicle lease record to be added tothe vehicle lease database by a listing user. The lease action engine isoperable to associate an added vehicle lease record of the vehicle leasedatabase with the listing user upon addition of the added vehicle leaserecord to the vehicle lease database. The lease action engine is furtheroperable to produce at least one web page for enabling a given user todelete or modify an existing vehicle lease record of the vehicle leasedatabase only if the listing user associated with the existing vehiclelease record is the given user.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a schematic web page flow chart showing one embodiment of alease transfer system and method;

FIG. 2 is a schematic web page flow chart showing an aspect of thesystem and method of FIG. 1 in which a stored vehicle lease record ismodified or deleted; and

FIG. 3 is a schematic showing optional aspects of the system and methodof FIG. 1, namely, connections between the Internet Website at whichlease records are displayed and other sites where information concerningvehicle purchasing and vehicle insurance are displayed.

FIG. 4 is a process chart for options from an home page of anotherembodiment of a leasing system and method;

FIG. 5 illustrates a searching user/buyer transaction process;

FIG. 6 illustrates a listing user/seller ad placement process;

FIG. 7 illustrates an user account management process;

FIG. 8 illustrates a flow diagram of a lease transfer process;

FIG. 9 illustrates additional content options available from the website;

FIG. 10 illustrates an exemplary display of vehicle information; and

FIG. 11 illustrates an exemplary Internet supported system.

DETAILED DESCRIPTION

One embodiment of a leasing system and method is described withreference to drawing FIGS. 1-3. In such drawings, each rectangular block(with the exception of blocks 50, 52, 54 and 56) represents a computergenerated page, such as a web page, which may be accessible via theInternet. The entries in such “web page blocks” which include associatedpath lines represent links to other web pages. Entries in such “web pageblocks” which do not include associated path lines represent eitherdisplayed information or information to be entered or identified by auser as will become apparent through the explanation below.

As shown in FIG. 1, an individual, such as a lease owner, who intends toassign a vehicle lease first accesses the home page 10 of the Website.At this home page 10, the individual is introduced to the Website and ispresented with computer generated buttons which activate links which areselectively activated by the individual (e.g. by mouse click) dependingon whether he or she intends to assume a vehicle lease “LEASE”), sell avehicle lease (“SELL LEASE”) or, if the individual has already visitedthe site and registered with the site, sign in and view his or heraccount (“REGISTERED USER SIGN IN”). If the individual is a first-timevisitor the individual so indicates by clicking on the icon on the homepage 10 and is directed to a page 12 which displays the rules or givesthe individual a link to the rules and a link to proceed by confirmingthat the rules have been read. After reading the rules, which optionallycan be displayed at linked to page 14, the lease owner is sent to a pageor screen 16 at which the lease owner creates an account by entering auser identification code (“user ID”) and password.

The lease owner then reenters his or her own ID and password and logson, as shown in web page block 18 in FIG. 1. Once having logged in, thelease owner is directed to a Main Menu page 20 which provides linkoptions which include adding a new vehicle lease (“ADD LEASE”),modifying an existing vehicle lease (“MODIFY LEASE”), deleting anexisting vehicle lease (“DELETE LEASE”), listing all of the leasesentered by that lease owner (“LIST ALL LEASES”), or searching for aparticular vehicle lease in a search database (“NEW SEARCH”).

If the lease owner intends to add a lease, he or she is directed to ascreen or page 22 at which the lease owner is prompted to enterinformation pertinent to the leased vehicle and lease to be assigned.Such information may include the lessors city, state and e-mail; themake, model, year, color, # of doors, and mileage of the vehicle as wellas any additional lease owner comments on the vehicle; and leaseinformation including miles allowed on lease, monthly lease payment,months remaining on lease, and down payment required to acquire thelease, if any. Once the information has been entered, the newly createdrecord is displayed as indicated at page block 24. At this point, asindicated at page block 26, the lease record is entered into the searchdatabase for access by interested users.

As shown in FIG. 2, if the lease owner wishes to modify a lease, fromthe Main Menu page 20, the lease owner is linked to a “Modify Records”page 30. Screen or page 30 lists all of the lease records created bythat lease owner and entered into the database, and prompts the leaseowner to select a particular lease to be modified. The user selects aparticular lease by mouse-clicking on the appropriate record, and islinked to a screen or page 32 which displays the record to be modified.

At that point, the lease owner modifies the data in the field or fieldsof the record as desired and indicates approval of the modified recordby clicking on an appropriate action button. As indicated at page block34, the modified record is displayed and entered into the database,replacing the original record. The lease owner is then sent back to thehome page 10.

In the alternative, if the lease owner intends to delete a lease, thatoption is selected in the Main Menu page 20 and the lease owner islinked to a screen, represented by block 36, which displays all of thelease records entered by the lease owner. The lease owner then indicatesby a mouse click which lease or leases are to be deleted, and mouseclicks on an action button to delete the record or records marked fordeletion. The lease owner is then linked to a screen or page 38 whichindicates that the selected lease records have been deleted from thedatabase. The lease owner is than given the option of returning to thehome page 10, or in the alternative, adding a lease, deleting a lease,modifying a lease, listing all leases, or viewing the Main Menu.

Referring back to FIG. 1, if an individual accessing the home page 10intends to assume (or “buy”) a lease, the appropriate virtual button(“LEASE”) is activated and the lease buyer is directed to a “SearchDatabase” screen or page 40. It should be noted that the page indicatedat block 40 can be accessed from a number of locations at the Website,including the Main Menu page 20.

From the Search Database page 40 the lease buyer can select either toview all vehicles in the database, and be linked to “Displaying AllVehicles” at page block 42, or can submit certain parameters, includingthe city and state of the residence of the owner of the vehicle; themake, model, year, color and number of doors on the vehicle; and/or theamount of the monthly payment of the lease. Once such information iscommunicated to the system, which occurs when the lease buyer clicks avirtual button labeled “View Vehicles”, a search of the database is madebased upon the entered criteria, and the lease buyer is linked to a“Display Selected Vehicles” screen or page 44 which displays all of thevehicles meeting the selected or entered criteria.

From the screen or page 42 or 44 the lease buyer selects a particularvehicle and is instructed to click on the year date of the vehicle,which will pull up a “Display Vehicle Profile” screen or page 46 whichdisplays all of the information pertaining to that vehicle. The leasebuyer is then provided with the option of calling up a screen or page 48which displays the directions pertaining to assuming the lease.

At this point, the lease buyer has the option of downloading a creditapplication, shown at page block 50, filling out the credit applicationand sending it to the lessor bank, indicated at page block 52. Where abank accepts only credit applications with original signatures, thetransmission of a completed credit application from a lease buyer to abank may be performed offline, with the actual lease document. However,it is within the scope of this embodiment to provide a system in which acompleted credit application is transmitted electronically to a bankwith appropriate signature verification protocols. The final step withrespect to the assignment of the lease from the lease owner to the leasebuyer, is to receive the signed credit application and lease transferdocumentation from the bank, shown at block 54.

At any point along this procedure, that is, from blocks 46 through 54,the lease buyer contacts the lease seller, shown as block 56. At thispoint, the lease buyer can contact the lease seller through informationdisplayed on the screen 46, in which the lease seller may provide anemail address, telephone number, mail address and so on. Once the leasebuyer has contacted the lease seller, the parties can negotiate offline(meaning not through use of the subject Website) with respect to theterms of the lease assumption. These terms would include the payment, ifany, to be exchanged between the lease buyer and the lease seller tocompensate for, for example, a security deposit or a capital reductionpayment. Of course, it is within the scope of the invention to provide asystem in which payment can be made by a lease seller to a lease buyerin order to make the assumption of the lease more attractive.

While it is likely that the lease seller will be contacted by apotential lease buyer prior to the lease buyer downloading a creditapplication (block 50), it is within the scope of this embodiment toprovide a system in which the lease buyer can obtain the creditinformation first, to verify that the lease buyer could qualify toassume a lease having a particular monthly payment amount.

As shown in FIG. 3, the system and method of the present inventionprovides additional capabilities. For example, from the Home page 10, anindividual who decides against assuming a lease, can be linked to asite, represented by page block 58, vehicles are listed for purchase,rather than for lease assumption. In addition, an individual at the Homepage 10 can be linked to a site, represented by page block 60, at whichinformation pertaining to insurance quotes can be viewed.

A second embodiment of a method and system for facilitating transfer ofvehicle leases between parties is now described with reference to FIGS.4-9. FIG. 4 depicts the process options available to a user who hasentered the Home page 100 of the lease system web site. Home page 100provides a user the ability to link to various options of the web siteincluding a sell lease link 102, a registered user sign in link 104, asearch for vehicle link 106, a category search link 108, and additionalinformation link 110 and a “cool things” link 112. Of course, otherlinks or options could be provided.

Referring to FIG. 5, a searching user/buyer process 120 is shown. A userselecting the search for a vehicle link 106 may be taken to a web pageor pages 122 where a user can utilize a search engine to enter certainsearch parameters for the types of vehicles of interest to the searchinguser. These parameters may, for example, include the city and state ofresidence of the owner of the vehicle or city and state of vehiclelocation; the make, model, year, color and number of doors on thevehicle; and/or the desired amount of the monthly vehicle lease payment.Such parameters might be manually entered or could be selected fromlists generated on the web page. Of course, other search parameterscould be included in a given system. Once the parameters are entered,the search engine conducts a search as indicated at 124 to determine ifany vehicle lease records in the vehicle lease record database of theweb site meet the criteria entered by the searching user. If so, thesearching user may be linked to a web page or pages 126 where thematching vehicle lease records can be viewed. A user who selects thecategory search link 108 may also be linked to page or pages 126 to viewinformation from vehicle lease records matching the search category. Byway of example, possible search categories may include cars, luxurycars, sports cars, SUVs, trucks, vans, all listings, or new listings.

At 126, in one embodiment the vehicle lease record information may bedisplayed in a list format, with minimal information being displayedsuch as the vehicle make and model, the vehicle year, the vehicle style,the monthly lease payment for the vehicle, and the months remaining onthe vehicle lease. Each vehicle in the displayed vehicle list mayinclude a link to more detailed information concerning the vehicle andits associated vehicle lease. In this manner, the searching user canmake a quick determination of whether or not he/she has interest in anyof the listed vehicles, and if so can retrieve additional informationusing the link provided on the web page. In this regard, the linkassociated with each displayed vehicle on the list may generate a pop-upwindow which includes the additional vehicle and vehicle leaseinformation. In one embodiment the information displayed may be in theform shown in FIG. 10 where the vehicle year, make, model, style,exterior color, engine type, transmission type, drive type, mileage,interior color, equipment, total miles allowed on lease, leaseexpiration date, months remaining, monthly lease payment, leaseholderbank, lease end buyout, and additional vehicle information fields areprovided for the searching user. In addition, a vehicle picture may beprovided and a summary paragraph defining the vehicle model, leasepayment, months remaining, average miles allowed per month and totalmiles allowed in conjunction with the vehicle lease may also beprovided. The web site software may generate this informationautomatically. Notably, in this embodiment the searching user is notprovided with any listing user information which might enable thesearching user to contact the listing user.

If a searching user finds a particular vehicle of interest as indicatedat 128 in FIG. 5, the searching user may trigger a link to requestcontact information of the listing user as indicated at 130. At 132, ifthe searching user is not already a registered user of the site, thesearching user is directed to a web page or series of web pages 134,136, 138 where the searching user can create a new account by enteringpersonal data including, for example, user name information, passwordinformation, e-mail information, credit application information, andcredit card information. Once the information has been entered, thecredit card information may be processed at 142 to charge the searchinguser a monetary amount to become a registered user of the site. It iscontemplated that an automated electronic credit card transactionprocess may be used. If the credit card transaction clears, the user isadded to a registered user data base of the web site and the searchinguser/buyer is given access to the listing user/seller information forthe vehicle of interest at 142. Similarly, the listing user/seller isprovided with the searching user/buyer contact information at 144. Inone embodiment the listing user and searching user may be provided withsuch information via automated e-mails. It is also contemplated that thelisting user and/or searching user could be provided access to thecontact information via a web site page, as indicated at 146. At step132, if the searching user is already a registered user of the web sitesteps 134, 136, 138 and 140 may be skipped.

If no matching vehicle lease record is found at step 124, or if novehicle of interest is identified in step 128, the searching user mayelect to use a notify me option 148 of the search engine in which thesearching user enters his contact information 150 (preferably at leaste-mail information) which is then stored in a database in associationwith the listing users entered criteria. The search engine automaticallysearches the vehicle lease record data base on a regular basis in thefuture to determine whether any newly added vehicle lease records meetthe entered criteria of the searching user. If so, an automated e-mailto the searching user may be generated informing the searching user thatnew vehicles of interest are contained in the vehicle lease database.The e-mail may also include a link to the web page or pages containinginformation regarding the vehicle or vehicles of interest. After thesearching user enters his contact information, the search criteriainformation may be modified by the user at 152. User notification isillustrated at 154.

Referring again to step 128, for a given vehicle of interest a searchinguser may also choose to obtain more information regarding the vehicle asindicated at 156. At step 158, if the searching user has not enteredcontact information previously the information is entered on the website at 160. Otherwise, at 162 the searching user/buyer enters aquestion or otherwise requests additional information from the listinguser/seller. The information may be entered via a web page entry screen,and then automatically e-mailed on to the listing user/seller at 164,without identifying the searching user to the listing user. The listinguser/seller replies to the email at 166 and the reply is automaticallyforwarded to the searching user/buyer at 168, without identifying thelisting user to the searching user.

A listing user/seller add placement process 180 is now described withreference to FIG. 6. From the Home page 100, the listing user selectsthe sell a lease link 102 and is taken through a series of web pagesand/or pop up windows which allow the user to enter appropriateinformation as needed. As indicated at 184, the listing user may firstbe provided with information about how the vehicle listing processworks. At 186, the listing user either logs in (assuming the listinguser is already a registered user and has created an account with thewebsite) or the listing user creates a new account. At this step apreviously registered listing user simply enters login information suchas a login name and password and is then directed to a screen or pagewhere the listing user can verify the continued accuracy of the listinguser's account information. An unregistered listing user may be directedto a series of pages or screens for the entry of required accountinformation including a desired user name and password, legal name, dateof birth, social security number, residence address, telephone number,and e-mail address. Once the listing user has either logged in andverified account information or entered new account information at 188,the listing user maybe taken through a series of web-pages or screens190 which enable the listing user to enter data about the particularvehicle which the listing user intends to list on the website. In oneembodiment the listing user may enter the information manually, or inanother embodiment the listing user may use an input device such as amouse to select from options displayed on the web pages. The informationtypically entered might include the vehicle year, vehicle make, vehiclemodel, vehicle category, vehicle body style, vehicle engine, vehicletransmission type, vehicle drive system, vehicle mileage, vehicleinterior and exterior color, VIN number, vehicle equipment, andadditional information or comments the listing user wishes to provide.The listing user may also be provided the ability to upload an image ofthe vehicle as part of the vehicle listing record, or the listing usermay select from a number of stock vehicle images stored in a database onthe web site. Alternatively, listing users may be given the option ofmailing a vehicle photograph to the website administrator.

Once the vehicle information is entered at 190, the listing user maythen be directed to a web page or series of web pages/screens in orderto enter vehicle lease information as indicated at 192. The informationentered by the listing user may include the vehicle leasing company, thelease account number, the monthly lease payment, the total miles allowedon the lease, the length of the lease term, the lease end buyout amount,the lease origination date and the lease expiration date. After thevehicle lease information has been entered at step 192, the listing usermay be given the option of providing an incentive as indicated at step194. If the listing user chooses to provide an incentive the listinguser may be directed to a page or screen where the incentive may beentered as indicated at 196. After entry of the incentive, or if noincentive is to be offered, the listing user enters credit cardinformation at step 198 to pay a required monetary fee in order to havethe vehicle listed on the website. At such time the listing user agreesto all listing and transfer fees and also agrees that the websiteadministrator will act as their agent in the lease transfer transaction.At step 200 the electronic credit card transaction is processed and, ifapproved, an automated e-mail is sent to the listing user/seller toconfirm that the vehicle has been listed and to provide details on whatmay happen next as indicated at step 202. At 204 the vehicle leaserecord is added to the website database and the listing is activated at206. Upon successful completion of the electronic credit cardtransaction the listing user may also be queried as to whether or notthe listing user will continue to be held liable to the vehicle leasingcompany even after transfer of the vehicle lease to another party. Thisquery is shown at 208 and may be in the form of a simple questionpresented to the listing user. Alternatively, because vehicle leasingcompanies typically use standardized agreements, the website may storeinformation regarding continued lessee liability after transfer and mayautomatically determine whether or not the listing user will continue tobe held liable. If the listing user will continue to be held liable thelisting user may be directed to a liability insurance link 210 whereinsurance coverage may be obtained to cover the continued liability aswill be explained in further detail below.

The lease transfer system website may also be set up to allow listingusers/sellers and/or searching users/buyers to manage their accounts aswill be explained with reference to the process chart 220 of FIG. 7.From the registered users sign in link 104 of the home page a listinguser may be provided with options including seller mail box option 222,edit seller data option 224, manage add option 226, and liabilityinsurance link option 210. Via the seller mail box option 222, thelisting user may view registered searching user/buyer contactinformation for any searching user who has indicated an interest in agiven vehicle listed by the listing user as indicated at 228. Thelisting user may also initiate a transfer of a lease for a given vehiclelisted by the listing user as indicated at 230. The listing user may becharged a monetary fee via electronic credit card transaction asindicated at 232, 234 in order to initiate the lease transfer. If thecredit card transaction is approved an electronic message 236 triggersthe website administrator to initiate the lease transfer and anelectronic message 238 to the listing user to confirm that the leasetransfer process has been initiated. With regard to electronic message236, where the lease transfer process is wholly automated thiselectronic message may simply trigger website software to perform thelease transfer process as will be explained below. Alternatively, whereone or more of the lease transfer process steps is conducted manually,this electronic message may be an e-mail to the website administrator.

After the electronic credit card transaction is approved at step 234, adetermination may be made at step 240 as to whether or not the listinguser will remain liable to the vehicle leasing company after transfer ofthe vehicle lease. This determination may be made as previouslydescribed. If so, at step 242 an explanation of the liability issue maybe provided to the listing user. If the listing user expresses aninterest in liability insurance to cover the continued liability at step244, the listing user may be directed to a page 246 which explains indetail the coverage available to the listing user through the system. Ifthe listing user chooses to request the insurance at step 248, anelectronic message 250 may be generated to initiate the insuranceapplication process. The electronic message 250 may initiate anautomated preparation of an insurance application which can beelectronically forwarded to the insurance provider for approval, withsuch approval notification being electronically transmitted back to thewebsite and forwarded on to the listing user. Alternatively, where paperdocumentation is required the insurance policy application may begenerated and forwarded to the listing user for signature, with theapplication then being forwarded onto the insurance provider.

The edit seller data option 224 enables the seller to edit his accountinformation, such as telephone number, address, e-mail address, etc. Themanage add option 226 enables the listing user, via lease action enginesoftware, to create new vehicle lease records, edit existing vehiclelease records, delete existing vehicle lease records, and/or extend theactive time period of a given vehicle lease record. In this regard, whena listing user creates a new vehicle lease record it is stored in thevehicle lease database in association with information identifying thelisting user. Using option 226 the listing user only has access to edit,delete or to extend vehicle lease records which are associated with theparticular listing user (as by login information and name). The extendcapability for given vehicle lease records is based upon an embodimentin which the listing user pays a first monetary amount to have a vehiclelisted for a set period of time (such as two months), and after that settime the vehicle listing is automatically deactivated. If the listinguser has not sold/transferred the vehicle lease by that time, thelisting user may select the extend option and pay an additional monetaryamount to keep the vehicle listing active on the site for an additionaltime period.

Liability insurance link 227 enables the listing user to request theliability insurance coverage after the lease transfer has beeninitiated. For example, where a listing user originally elects not toobtain the liability insurance, and then has a change of heart, thelisting user can reenter the system and use link 227 to obtain theliability insurance coverage.

After sign in, a searching user/buyer maybe given various optionsincluding a buyer mailbox option 252 and in edit buyer data option 254.Using the buyer mailbox option 252, the searching user may manage thesearching users previous contact requests as indicated at 256. Forexample, the searching user may elect to withdraw a previously indicatedinterest in a particular vehicle searching. Using the edit data option254 the searching user may change the contact information stored on thesystem, such as address, telephone number, e-mail, etc.

A lease transfer process diagram 270 is shown in FIG. 8. When a listinguser initiates a lease transfer at 230, the vehicle lease record ismarked as a “swap pending” record in the vehicle lease database at 272.In this manner future searching users viewing information concerning thevehicle associated with the vehicle lease record will be informed that alease transfer has already been initiated for the vehicle. At step 274the searching user/buyer is contacted to confirm that it is okay toproceed with the lease transfer. Such contact may be made in anautomated electronic manner, such as via e-mail, with the searching userapproving the lease transfer by return e-mail or by accessing thewebsite. Various lease transfer fees may also be collected from thesearching user/buyer at this time, including any bank related creditapplication fees, which may be collected via electronic credit cardtransaction. At step 276 a credit application is prepared for thesearching user/buyer and is submitted to the leasing company. The creditapplication may be generated automatically in electronic format basedupon the information that the searching user previously entered increating the listing user site account, and may be electronicallytransmitted to the leasing company. It is also possible that the creditapplication may be printed in hard format and submitted in such formatto the leasing company. If the credit application is approved by theleasing company at step 278, as may be indicated by an electronicallygenerated message by the leasing company, the website contacts thelisting user/seller at 282 to update necessary information for the leasetransfer, primarily the current vehicle mileage. Such contact may bemade via telephone, fax, or by an automated e-mail to the listing userwhich directs the listing user to access the website and enter therequired update information.

If the listing user has requested liability insurance as determined atstep 282 the insurance application can be submitted to the insurancecompany at 284 and the insurance company can generate and complete thepolicy at 286. In one embodiment such application submission and policygeneration may be a fully automated electronic process. At step 288 thenecessary lease transfer documents are produced using the informationwhich has been previously provided by both the listing user/seller andthe searching user/buyer. Such document preparation may be an automatedelectronic process or may involve some human intervention. The transferdocuments are forwarded to the searching user/buyer and the listinguser/seller for review and execution and are then returned to theleasing company at step 290. Where the documents are electronicallygenerated they may be electronically forward to the users, via e-mail orvia the website, with the users providing electronic approval/signatureto the documents. Alternatively hard copies of the documents may beforwarded to the users for manual signature. Similarly, the executeddocuments may be forwarded electronically to the leasing company, orhard copies of the documents may be forwarded. At step 292 the vehiclerecord is marked sold in the vehicle lease database so that futuresearching users will not unnecessarily waste their time by expressinginterest in a vehicle which is no longer available. At step 294 thetransfer is shown as completed.

As shown in FIG. 9, the additional information link 110 of the websitehomepage 100 may provide the users with various information concerninghow the process works, as well as links to other information which maybe helpful to the users. For example, a how it works link 300 mayprovide an explanation of the process which is directed to searchinguser/buyers at indicated at 302 and may also provide an explanationwhich is directed to listing users/sellers as indicated at 304. Aglossary of various terms may be provided at 306. The link 308 woulddirect the users to an explanation of the company running the websitewhile link 310 would provide contact information for the websiteoperator. A link to frequently asked questions (and answers to the same)may be provided at 312, and a link which would direct users to relatedservice providers may be provided at 314. The cool things link 112 maybe used to direct users to buying tips 316, selling tips 318, a sitenewsletter 320 and a lease calculator 322. From various locations inthis process the users may be directed by link 324 to the insuranceproduct information. Links to particular leasing companies may also beprovided as shown at 326 in order to provide both listing users andsearching users with information about the particular leasing companyassociated with a given vehicle lease at 328.

Referring now to FIG. 11 an exemplary system 350 in which communicationsare provided vice the Internet 352 is shown and includes the leasesystem web site 354 which may be formed by one or more web servesstoring the software and databases used to operate the system aspreviously described. Multiple users 356 are shown, with their accesstypically being provided by a personal computer. However, it isrecognized that systems in which users access the site 354 using otherdevices such as personal digital assistants or cell phones could besupported. Leasing company computer systems 358 are shown, along withinsurance provider computer system 360 and credit history companycomputer systems 362.

Although the invention has been described above in detail referencingthe preferred embodiments thereof, it is recognized that various changesand modifications could be made without departing from the spirit andscope of the invention.

1. A method for facilitating transfer of vehicle leases between parties,the method comprising the steps of: providing a database of vehiclelease records concerning vehicle leases available for transfer;providing a search engine for searching the vehicle lease databaseaccording to entered criteria, the search engine operable to identifyavailable vehicle lease records which meet the entered criteria;providing access to the search engine via a computer network; and uponexecution of a given search including criteria entered by a searchinguser, providing, via the computer network, the searching user withvehicle lease information concerning at least one matching vehicle leaserecord which meets the entered criteria of the given search, if such amatching vehicle lease record exists.
 2. A method for facilitatingtransfer of vehicle leases, the method comprising: in response to userinput received over a computer network from a first user, creating afirst vehicle lease record in a vehicle lease database, wherein thefirst vehicle lease record is associated with a vehicle that iscurrently under an existing lease, and wherein the first vehicle leaserecord identifies lease information associated with the existing lease;in response to user input received over a computer network from a seconduser, searching the vehicle lease database to generate a result set ofvehicle lease records that match a search criterion, wherein the resultset identifies at least the first vehicle lease record; communicating atleast a portion of the result set to the second user, includingcommunicating lease information for the first vehicle lease record;restricting communication between the first and second users, andthereafter removing a restriction on communication between the first andsecond users in response to occurrence of an event.
 3. The method ofclaim 2, wherein the lease information for the first vehicle leaserecord communicated to the second user includes a lease payment amount.4. The method of claim 2, wherein the lease information for the firstvehicle lease record communicated to the second user includes an allowedlease mileage amount.
 5. The method of claim 2, wherein the leaseinformation for the first vehicle lease record communicated to thesecond user includes a remaining lease mileage amount.
 6. The method ofclaim 2, wherein the lease information for the first vehicle leaserecord communicated to the second user includes an amount of availablemiles per month remaining on the lease.
 7. The method of claim 2,wherein the lease information for the first vehicle lease recordcommunicated to the second user includes a remaining number of months inthe lease.
 8. The method of claim 2, wherein the lease information forthe first vehicle lease record communicated to the second user includesa lease termination date.
 9. The method of claim 2, wherein the leaseinformation for the first vehicle lease record communicated to thesecond user includes a lease end buyout amount.
 10. The method of claim2, wherein the lease information for the first vehicle lease recordcommunicated to the second user includes a payment amount required toassume the lease.
 11. The method of claim 2, wherein the leaseinformation for the first vehicle lease record communicated to thesecond user includes an incentive offered by the first user to encourageanother user to assume the lease.
 12. The method of claim 2, wherein theevent comprises: obtaining credit information from the second user;generating an electronic credit application for the second user usingthe obtained credit information; and forwarding the electronic creditapplication to at least one credit provider.
 13. The method of claim 2,wherein the event is payment of a monetary fee by the second user. 14.The method of claim 13, wherein searching the vehicle lease database isperformed prior to payment of any monetary fee by the second user. 15.The method of claim 2, wherein the event is verification that the seconduser could qualify to assume the lease.
 16. The method of claim 2,wherein restricting communication includes restricting access by thesecond user to identifying information about the first user that mightenable the second user to contact the first user.
 17. The method ofclaim 2, further comprising: prior to the event, enabling the seconduser to enter a question seeking additional information from the firstuser; electronically forwarding the question to the first user; andelectronically forwarding a response from the first user to the seconduser while restricting access by the second user to information aboutthe first user that might enable the second user to contact the firstuser.
 18. The method of claim 17, wherein electronically forwarding thequestion and the response are performed by a web site, and whereinrestricting access by the second user to information about the firstuser that might enable the second user to contact the first usercomprises restricting access by the second user to information about thefirst user that might enable the second user to contact the first uservia a mechanism other than the web site.
 19. The method of claim 17,further comprising providing an electronic mailbox for the first userfrom which to receive the question from the second user.
 20. The methodof claim 2, further comprising enabling the first user to electronicallyrequest insurance for coverage of vehicle liability retained by thefirst user after transfer of the lease.
 21. The method of claim 2,further comprising, prior to creating the first vehicle lease record,requiring the first user to become a registered user by at leastentering first user identifying information.
 22. The method of claim 2,further comprising: obtaining credit information from the second user;generating an electronic credit application for the second user usingthe obtained credit information; and forwarding the electronic creditapplication to at least one credit provider.
 23. The method of claim 22,further comprising, upon receipt of approval/denial status of theelectronic credit application, electronically notifying each of thefirst and second users of the approval/denial status.
 24. The method ofclaim 22, wherein the forwarded credit application complies withsignature verification protocols.
 25. The method of claim 2, furthercomprising electronically initiating a transfer of the lease associatedwith the first vehicle lease record to the second user.
 26. The methodof claim 25, wherein electronically initiating the transfer includesgenerating at least one vehicle lease transfer document and forwardingthe document to at least one of the first and second users.
 27. Themethod of claim 26, wherein forwarding the vehicle lease transferdocument is performed electronically.
 28. The method of claim 26,further comprising electronically forwarding the vehicle lease transferdocument to a leasing company.
 29. The method of claim 2, furthercomprising, after initiation of a transfer of the lease associated withthe first vehicle lease record, marking the lease associated with thefirst vehicle lease record as in a transfer pending state such that anyuser that views information from the first vehicle lease record isnotified that the lease transfer is pending.
 30. The method of claim 2,further comprising: storing a search criterion in response to user inputfrom the second user; associating the search criterion with an addressfor the second user; subsequently conducting an automated search of thevehicle lease database to identify at least one matching vehicle leaserecord meeting the search criterion; and electronically communicating amessage to the address for the second user that notifies the second userthat a matching vehicle lease record exists in the vehicle leasedatabase.
 31. The method of claim 2, further comprising: after theevent, providing to the first user the contact information of the seconduser for the first user to utilize the contact information to directlycommunicate with the second user to discuss at least one term ofassumption of the existing lease.
 32. The method of claim 31, whereinthe contact information comprises a telephone number of the second user.33. The method of claim 31, wherein the discussed term is related towhether any payment will be exchanged between the users.
 34. The methodof claim 31, wherein the contact information comprises an email of thesecond user.
 35. The method of claim 2, further comprising: after theevent, providing to the second user the contact information of the firstuser for the second user to utilize the contact information to directlycommunicate with the first user to discuss at least one term ofassumption of the existing lease.
 36. The method of claim 35, whereinthe contact information comprises a telephone number of the first user.37. The method of claim 35, wherein the discussed term is related towhether any payment will be exchanged between the users.
 38. The methodof claim 35, wherein the contact information comprises an email of thefirst user.
 39. The method of claim 2, further comprising linking thesecond user to at least a portion of a website related to insurance inresponse to a request by the second user for insurance.
 40. The methodof claim 2, further comprising linking the second user to at least aportion of a website related to purchase of a vehicle in response to arequest by the second user for the purchase of a vehicle.
 41. A methodfor facilitating transfer of vehicle leases, the method comprising: inresponse to user input received over a computer network from a firstuser, creating a first vehicle lease record in a vehicle lease database,wherein the first vehicle lease record is associated with a vehicle thatis currently under an existing lease, and wherein the first vehiclelease record identifies lease information associated with the existinglease; in response to user input received over a computer network from asecond user, searching the vehicle lease database to generate a resultset of vehicle lease records that match a search criterion, wherein theresult set identifies at least the first vehicle lease record; andcommunicating at least a portion of the result set to the second user,including communicating lease information for the first vehicle leaserecord.
 42. An apparatus, comprising: at least one computer includingmemory and at least one processor; and program code resident on the atleast one computer and configured to facilitate transfers of vehicleleases by: in response to user input received over a computer networkfrom a first user, creating a first vehicle lease record in a vehiclelease database, wherein the first vehicle lease record is associatedwith a vehicle that is currently under an existing lease, and whereinthe first vehicle lease record identifies lease information associatedwith the existing lease; in response to user input received over acomputer network from a second user, searching the vehicle leasedatabase to generate a result set of vehicle lease records that match asearch criterion, wherein the result set identifies at least the firstvehicle lease record; and communicating at least a portion of the resultset to the second user, including communicating lease information forthe first vehicle lease record.
 43. An apparatus, comprising: at leastone computer including memory and at least one processor; and programcode resident on the at least one computer and configured to facilitatetransfers of vehicle leases by: in response to user input received overa computer network from a first user, creating a first vehicle leaserecord in a vehicle lease database, wherein the first vehicle leaserecord is associated with a vehicle that is currently under an existinglease, and wherein the first vehicle lease record identifies leaseinformation associated with the existing lease; in response to userinput received over a computer network from a second user, searching thevehicle lease database to generate a result set of vehicle lease recordsthat match a search criterion, wherein the result set identifies atleast the first vehicle lease record; communicating at least a portionof the result set to the second user, including communicating leaseinformation for the first vehicle lease record; and restrictingcommunication between the first and second users, and thereafterremoving a restriction on communication between the first and secondusers in response to occurrence of an event.